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Oasis Petroleum Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Oasis Petroleum (NYSE:OAS) traded at a new 52-week low today of $4.40. So far today approximately 1.4 million shares have been exchanged, as compared to an average 30-day volume of 10.7 million shares.

Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin and the Texas region of the Delaware Basin, respectively.

Potential upside of 201.1% exists for Oasis Petroleum, based on a current level of $4.40 and analysts' average consensus price target of $13.25. Oasis Petroleum shares should first meet resistance at the 50-day moving average (MA) of $5.24 and find additional resistance at the 200-day MA of $6.85.

Over the past year, Oasis Petroleumhas traded in a range of $4.40 to $14.57 and are now at $4.40. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oasis Petroleum on May 1st, 2019 by issuing a Downtrend alert when the shares were trading at $5.93. Since that call, shares of Oasis Petroleum have fallen 25.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows oasis petroleum

Ticker(s): OAS